WASHINGTON, DC—Washington Real Estate Investment Trust continues its expansion of its DC portfolio with the acquisition of The Army Navy Club building on Farragut Square here for $79 million.

The Rockville, MD-based firm has over the past three months spent $152 million in the acquisition of properties within the District of Columbia.

Originally constructed in 1912, The Army Navy Club building at 1627 Eye St. NW is a 12-story building with a three-level parking garage. At present, the building is 100% leased. The 110,000-square-foot building was completely redeveloped and expanded in 1987 when four additional floors were added to the property.

WRIT assumed a $52.6 million 3.45% mortgage maturing on May 1, 2017 with optional prepayment ability beginning May 1, 2014. The balance of the purchase price was funded with available proceeds from the recent medical office portfolio sale.

"The Army Navy Club Building is a historic office property ideally located in the heart of downtown Washington, DC," says Paul T. McDermott, president and CEO of WRIT. "This iconic property, which is located on Farragut Square, aligns well with our stated office strategy to purchase higher-quality assets with upside potential that are located in dense, in-fill locations, and offer rich amenity bases and superior access to the Metro."